Young people 'should be saving towards retirement'

www.moneynews.co.uk > Pensions calculator > Young people 'should be saving towards retirement'

Young people 'should be saving towards retirement'

Wed 7th Dec 2011

The UK's young people have been urged to start making provisions for their retirement as early as they can in order to build up a nest egg for them to be comfortable later in life.

Annie Shaw, founder of Cashquestions.com, said the introduction of the auto-enrolment scheme is a positive step for pensions saving, but young people in particular need to realise that the more they can save now the better off they will be when they get older.

She commented: "The welfare state will be very different by the time young people come to retire and so they need to be making provisions now."

According to recent comments from Ms Shaw, there are a multitude of less traditional savings options that could help to bolster pensions pots for individuals, including putting money for home deposits into a pensions saving account if people feel homeownership will forever be out of reach for them.

Click here for more pensions news
 

Related News : Pensions calculator
	Pension savers reach record low
	Brits 'should be able to save at ATMs'
	High earners pension tax relief to change
	Pensions 'are still confusing for many'
	EU proposals could damage UK pensions
	QE 'has negative impact on pensions'
	TUC advises on boosting pensions savings
	Delaying retirement 'significantly boosts pensions income'
	Pay freezes 'set to continue'
	Brits 'must be increasingly resourceful'